IIA-Australia Factsheet - The Risk Manager

Author

IIA-Australia

Date

2024

Topics Explored

Risk Management 

Format

Factsheet

Extract/Description

The Risk Manager is a Line 2 assurance position reporting to management responsible for developing the risk management strategy and framework for approval by the governing authority. Responsibilities extend to a range of other risk related tasks including operating and monitoring the risk management framework.

Key Points

  1. The Risk Manager has the role of coordinating all specialised risk management activities to ensure the governing authority receives holistic, coordinated and comparable information.
  2.  The Risk Manager should also coordinate their risk-related activities with the Line 3 internal audit function, which will be examining the extent to which they can rely on the work of the risk management function and the extent to which it should be independently assessed.
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Relevant Industries

All

Level of Assumed Knowledge

Intermediate